Clifton’s average selling price for a house is R43.9 million, with a single parking spot costing more than the national average.
Also read: Look: Exclusive Clifton property goes on sale for R230 million
According to the Seeff Property Group, the selling price of residences in Clifton is double that of Camps Bay, the country’s second most expensive suburb.
According to Seeff, only about 20 houses and five apartments sell in the little community.
Propstats data revealed that Clifton closed deals worth about R2 billion over the last five years, even after accounting for Covid-lows.
‘Clifton benefits from a spectacular location between mountain and sea with some of the most exclusive homes in the country,’ said Seeff.
‘It also has the best Blue Flag beaches packed throughout the summer. It is almost impossible to find parking here in the summer, and if you want to spend a day at the beach, you need to come early.’
Find your perfect set of wheels with these incredible deals on cars for under 100k. Find car listings here.
Nettleton Road is South Africa’s most expensive street, positioned high against Lion’s Head. Houses in the region sell for more than R100 million due to their solitude and waterfront views.
Current prices in the area range from R69 million to R160 million.
Jo Lombard, a luxury sales specialist with Seeff Atlantic Seaboard, told BusinessTech that prices might exceed R200 million if the economy and market pick up momentum.
Gauteng purchasers made at least three high-end sales totalling more than R20 million, with another two coming from KZN.
‘Clifton is not just scenically superior to most other luxury suburbs in the country but has offered superior returns for property investors,’ said Lombard.
‘Older houses were bought some years ago and remodelled or demolished to create stunning villas which can compare with some of the best globally, and scenery matched only by areas such as the South of France.’
He noted that the data demonstrates that investing sooner is preferable since prices continue to rise due to high demand.
‘The scenic setting, views, and limited land space all contribute to the demand and prices that buyers are willing to pay, not just to purchase, but also to rent a home or apartment here.’
So far, every home sold in 2024 has cost more than R20 million, with the highest recorded price of R66 million for a villa on Kloof Road.
According to Lombard, some of the country’s most desirable apartment buildings, such as Eventide, San Michele, and The Beaches, hug the shoreline and offer unrestricted ocean views.
‘Over the last year, prices of R44 million and R50 million were paid for apartments in Eventide, and R37 million in San Michele.’
‘The highest prices paid ranges to almost R187,000 per square metre.’
Surprisingly, a 16-square-metre parking space went for R2.5 million in the region.
For reference, data from Ooba Home Loans reveals that the average property price in South Africa was R1.48 million in Q1 2024.
This means that a parking space in Clifton costs R1 million more than the average home in the country.
Cape {town} Etc discount: Looking for things to do in the city, at half the price? Get exclusive offers here.
Also read:
Clifton property prices continue to soar amid growing demand
Picture: Ziyaad Douglas / Gallo Images
